Growing share of under-30s pay unaffordable rent

People under 30 are facing a growing cost-of-renting crisis, new figures seen by the BBC suggest.

Four in 10 of this age group are now spending more than 30% of their pay on rent, according to the data - a five-year high.

Experts say spending this level of income on rental costs is unaffordable.

While London has the highest rents, affordability has worsened in towns such as Rotherham and Bolton for young people since the pandemic.

The data suggests under-30s spend more of their earnings on rent than other working-age groups. The figures cover 150,000 young people and were supplied by property market consultancy Dataloft.

Megan Stephens and Richard Stranks, from London, had their rent put up from half their wages to two-thirds of them.

 

 

source bbc

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